MOIL Limited (INE490G01020), a state-owned manganese ore mining company, has reported a robust financial performance for the second quarter, with significant growth in profitability and operational efficiency.

Financial Highlights

The company's Q2 standalone net profit surged to Rs 704.00 million, marking a substantial 40.8% increase from Rs 500.00 million in the same period last year. This impressive growth in profitability underscores MOIL's strong operational performance and market position.

MOIL's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q2 stood at Rs 995.00 million, up 25.6% from Rs 792.00 million year-over-year. The EBITDA margin improved to 28.59% from 27.1% in the corresponding quarter of the previous year, indicating enhanced operational efficiency.

Dividend Declaration

In a move that will benefit shareholders, MOIL's Board of Directors has declared an interim dividend of Rs 1.80 per equity share. The record date for dividend eligibility is set for November 15, with the payment scheduled for December 9.

Segment Performance

MOIL's financial results reveal strong performance across its business segments:

The mining products segment continues to be the primary revenue driver for the company, while the manufactured products and power segments also contribute positively to the overall profitability.

Balance Sheet Strength

As of September 30, MOIL's financial position remains robust:

• Total assets stood at Rs 330,385.95 lakhs, up from Rs 321,135.42 lakhs as of March 31.
• The company maintains a strong equity base of Rs 270,214.09 lakhs, reflecting its financial stability.
• MOIL's cash and cash equivalents, along with bank balances, totaled Rs 83,629.34 lakhs, providing ample liquidity for operations and future investments.

Auditor's Note

The independent auditor's review report highlights that the company's revenue recognition includes Royalty, District Mineral Fund (DMF), and National Minerals Exploration Trust (NMET) contributions collected on behalf of third parties. While this is in line with industry practice, it differs from the treatment prescribed by IND AS 115, which stipulates that revenue should be shown on a net basis excluding such collections.

MOIL's strong financial performance, improved operational efficiency, and shareholder-friendly dividend policy position it well in the mining sector. However, as with any mining company, future performance may be influenced by factors such as commodity prices, regulatory environment, and overall economic conditions.

MOIL Limited , a state-owned manganese ore mining company, has reported exceptional performance in its production metrics for October 2025, setting new records and demonstrating strong growth trends.

Production Highlights

MOIL has achieved its best-ever October production since the company's inception, with manganese ore output reaching 1.60 lakh tonnes. This represents a significant year-over-year increase of 9.1%. The company's impressive performance extends beyond just one month, as evidenced by the production figures for the first seven months of the fiscal year 2025-26.

Exploration Efforts

In addition to its production achievements, MOIL has also made significant strides in its exploration activities. The company reported its highest-ever exploratory core drilling performance, reaching 57,275 meters during the period from April to October 2025. This enhanced focus on exploration underscores MOIL's commitment to expanding its resource base and ensuring long-term sustainability.

Management's Perspective

Shri Ajit Kumar Saxena, Chairman and Managing Director of MOIL, expressed optimism about the company's performance. He stated, "It is encouraging that the upward trend in production during the first seven months has been maintained. The MOIL team is fully geared up to register yet another impressive performance in the current year."

The robust production figures and exploration efforts demonstrate MOIL's strong position in the manganese ore sector. As India's largest producer of manganese ore, MOIL's performance is likely to have positive implications for the domestic steel industry, which relies heavily on manganese as a key raw material.

Investors and industry observers will be keen to see if MOIL can maintain this momentum in the coming months, especially given the cyclical nature of the mining sector and its sensitivity to global economic trends.